Strait of Hormuz Crisis Reshapes Global Trade and Food Security

The ongoing conflict around the Strait of Hormuz has fundamentally altered global shipping and energy markets, with Gulf states now accepting a new reality where Iran exerts significant control over the waterway. According to analysts, the strait will never return to its pre-war status quo, and a permanently recognized Iranian role in managing the waterway, likely jointly with Oman, is expected. Iran has reportedly demanded a 5-7% service fee per barrel of oil, which experts describe as a mafia-style protection racket that would generate nearly $20 billion annually, but such demands are seen as unrealistic and likely to be rejected by the U.S. and Gulf neighbors, leading to a prolonged stalemate or a lesser financial settlement.